Zenith Targets 3,000m Deep at Red Mountain, Pursuing Mt Wright-Style Gold and Copper Zones

Exploration Intensifies at Red Mountain

Zenith Minerals Limited (ASX – ZNC) has commenced a significant deep diamond drilling campaign at its wholly owned Red Mountain Project in Queensland. The program, comprising up to 3,000 metres of drilling, seeks to test geological models that suggest the presence of a Mt Wright-style intrusion-related gold system (IRGS) alongside a potentially concealed porphyry copper system. This initiative follows a recent A$3.5 million capital raise and benefits from a $275,000 grant from the Queensland Government’s Competitive Exploration Initiative.

Building on a Strong Geological Foundation

Discovered by Zenith in 2017, Red Mountain sits within the Tier-1 Auburn Arch, a region known for its rich mineral endowment. The project’s geological setting, featuring breccia complexes and intrusion-related mineralisation, closely resembles major Australian gold deposits such as Mt Wright and Mt Rawdon. An independent review by RSC has reinforced these comparisons, underpinning the company’s confidence in the project’s potential.

The current drilling program targets two principal mineralisation styles. On the western side, the focus is on down-dip extensions of broad, disseminated gold mineralisation within a rhyolite intrusion, which has previously returned intercepts like 129 metres at 0.51 grams per tonne gold. This target remains largely untested at depth, and the new drilling aims to identify a more significantly mineralised magmatic cupola that could be feeding the system.

On the eastern boundary of the ring complex, drilling is probing a potential porphyry copper system. Historic core assays have revealed increasing copper grades, peaking at 822 parts per million near the bottom of a previous hole. This target is being tested with a deep hole fully funded by the government grant, focusing on an induced polarization anomaly identified in 2021.

Metallurgical Promise and Concurrent Exploration

Metallurgical testing at Red Mountain has demonstrated encouraging results, with gold recoveries averaging 83.3% via conventional cyanide leaching and reaching as high as 95.8% in samples with lower arsenic content. These outcomes suggest a straightforward processing path, enhancing the project’s economic prospects.

Simultaneously, Zenith is advancing its Phase 1 gold resource expansion drilling at the Dulcie Far North Prospect in Western Australia, reflecting a multi-pronged approach to resource growth. The company anticipates a steady flow of exploration updates through the remainder of 2025, marking an active period for shareholders and the market.

Strategic Outlook

Managing Director Andrew Smith expressed optimism about the drilling campaign, highlighting the potential for a large, vertically zoned gold-copper system at Red Mountain. With government co-funding and a refined geological model guiding the program, Zenith aims to clarify the project’s resource potential before year-end. The company’s diversified portfolio, including lithium projects and a strategic interest in the Earaheedy Zinc Deposit, positions it well to capitalize on evolving market demands for precious and battery metals.